Lofty 997 Canyon Rd

Guest Favorite Short-term Rental located near the mountain resorts in Ogden, Utah

Offering Details

• Jordan Bentley transferred his property's deed to a new LLC and is selling a portion of the LLC on the Lofty Marketplace. This property is the only asset owned by the LLC.
• Tokens represent direct ownership in the LLC that owns the property. Jordan will maintain at least 10% ownership in the LLC indefinitely.
• View proof of Jordan's ownership prior to the title transfer and proof of title transfer to the LLC here. View the LLC documents here.

Property Details

• This property is a Guest favorite Short-term rental with a 4.88/5 star rating and 233 reviews. View Profit & Loss Statement.
• Managed by the co-owner, Jordan, a Superhost on Airbnb with a 4.9/5 star rating and over 380 reviews.
• This property is a single family home built in 2018 and designed specifically for Airbnb
• Guests receive a free Daily Ski Pass to Snowbasin Ski Resort via Corporate Pass (No blackout dates)
• Includes high speed Wifi and a 75" SmartTV with Netflix, YoutubeTV, Prime Video + more
• Fully equipped kitchen with granite countertops and black stainless steel appliances
• Washer + dryer
• Covered two-car garage + big driveway
• Located close to Pineview, Snowbasin, and Powder Mountain
• Jordan advised that there is little competition in the area, and provided the following context:
  • Ogden has a unique supply situation. As one of Utah's oldest cities, Ogden has been fully developed for decades. While the city permits short-term rentals, these properties must comply with current building codes and be located in non-single-family residential zones. Due to the area's age, most homes fail to meet these standards, particularly regarding egress windows, and do not meet the zoning requirements.
  • By a stroke of luck, a property burned down around 2017, creating a new lot that was already properly zoned. We took this opportunity to build two new twin homes on it, ensuring they met all building codes.
  • As the original owners, we designed these properties specifically for short-term rentals, which have performed exceptionally well. Additionally, Ogden is underbuilt in terms of hotels, leading to strong demand year-round without excessive competition.
• The annual projected appreciation rate is taken from Zillow

Property Management and Insurance

• Managed by the seller, Jordan Bentley, a Superhost on Airbnb with just under 400 reviews and a 4.9/5 star rating.
• Property Management Agreement
• Insurance Policy from Insur-west Inc.

Property Leverage

• This property has a loan balance of $274,050. View the loan documents here
• As the seller, Jordan Bentley pays down 100% of the loan payments, his equity percentage in the property will increase and the levered rental yield of investors will decrease over time. Investors have the ability to change this structure via a governance vote.
• Jordan does not plan on paying down the mortgage faster as it is at a low interest rate, and will follow the standard amortization schedule.

Occupancy Status

• Short-term rental on Airbnb
• View Airbnb listing

Location Data

• "B-" Rating for Zip Code on Niche
• Located close to Pineview, Snowbasin, and Powder Mountain

Due Diligence Documents

• Warranty Deed
• Appraisal
• Inspection Report
• Operating Agreement
• View All Documents